EToro introduces One Click Trading – Here’s how to set it
Despite the new platform has just been launched a few months ago (you can try it for free with an unlimited demo account), in these weeks eToro has continued to improve it and supplement it with new features.
Recently, in fact, the eToro One Click Trading function has been released.
In this short post we will show you this new platform component, by explaining clearly the Stop Loss and Take Profit functioning which is still not clear to many.
The eToro One Click Trading is essentially the opportunity for traders to open or close new positions with just one click, without having to go through the form for the creation of new trades.
The trader can decide to set by default automatic parameters (Amount, Leverage, Stop Loss and Take Profit) that the new trades will have and, once activated the One Click Trading function, the new transactions will be automatically opened with a single click, in other words, as fast as possible.
This feature comes in handy to those traders who like to do scalping or to open trades during high volatility periods, which are both situations where high speed of execution is needed.
The eToro One Click Trading function is a tool for Retail Traders, in other words for experienced investors capable of trading on the markets (which, as we often repeat, is a very difficult and complicated thing). Unless you are an experienced trader, you are strongly advised not to trade alone, and much less to activate the One Click Trading function to do so quickly. Much better to learn who to copy who can trade, i.e. learn to do Copy Trading, and maybe later specialize with eToro demo.
EToro One Click Trading – How to set it
The eToro One Click Trading function must be activated for each instrument on which you can trade, in fact, you cannot enable it once for all (and it wouldn’t even be possible for obvious calculation differences between the instruments).
For each instrument (currency pair, index, share, etc…), in fact, the fixed settings for the new trades must be specified. The first two are:
- Amount: the fixed amount of money you want to invest in any new trade
- Leverage: the multiplier, which is the fixed leverage with whom you intend to multiply your amount, and which will form the units with which you will open your position on the market. An example, an amount of $ 1,000 invested on EURUSDs, multiplied by 100, will give a total of 100,000 invested units, which is a standard lot. A lot of EURUSDs means that each pip is worth $ 10.
Obviously, the other two are Stop Loss and Take Profit. Here, however, there isn’t the opportunity to enter the values of your choice, but there are only two options, Default and Max. The official explanation on the eToro blog was not clear about what they were worth. We have contacted customer support for confirmations and here’s the explanation.
– Beware of Stop Loss and Take Profit
- Stop Loss: the Default value is 50%, while the Max value is 95%. Using the previous example, with the Default Stop the transactions will be closed at $ -500 of losses, that is -50 pips, while with the Max they will be closed at $ -950, that is -95 pips.
- Take Profit: the Default value is 50% here too, while the Max value is 1.000%. Then, the transactions in profits will be closed at + 500 $, that is 50 pips, in case of Default Profit, or at $ 10,000, that is 1,000 pips, in case of Max Profit.
Where to activate the eToro One Click Trading function
Activate the eToro One Click Trading function is very simple, and it can be done in two ways.
1. From the Settings section
From the side menu click on “Settings”, then on “Trading” at the top. Below, in “Do you want to enable One Click Trading” select “Yes”.
Now you can search and add all the instruments for which you want to use the One Click Trading function. By clicking on the little “wheel” of each one you can set the automatic parameters.
2. Opening a new trade
Provided that you have activated the function clicking on “Yes ” in the settings, as seen above, if you have to open a new trade on an instrument on which you want to start investing with the new One Click Trading function, then you can activate opening a trade with the classic method.
Once you open the classic eToro screen for the trade creation, before clicking “Set Order” just put the flag on “Use these settings in One Click Trading Mode”.
Once the function is activated, the instruments in question will change color, and in your Watchlist or in the Markets section the Sell and Buy commands will become dark grey.
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However, along with the Retail Trading and the innovative Social Trading, with eToro you can especially take advantage of the enormous Copy Trading potential and invest in a professional manner by copying automatically the other traders’ transactions.
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